In the latest trading session, AST SpaceMobile, Inc. (ASTS) closed at $84.43, marking a +1.69% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.56% for the day. Meanwhile, the Dow experienced a rise of 0.26%, and the technology-dominated Nasdaq saw an increase of 0.78%.
Coming into today, shares of the company had lost 26.16% in the past month. In that same time, the Computer and Technology sector lost 4.09%, while the S&P 500 lost 1.27%.
The investment community will be closely monitoring the performance of AST SpaceMobile, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.18, indicating a 50% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $40.69 million, reflecting a 2019.17% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.07 per share and a revenue of $57.29 million, representing changes of -62.12% and +1196.79%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AST SpaceMobile, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 22.01% downward. AST SpaceMobile, Inc. is currently a Zacks Rank #5 (Strong Sell).
The Wireless Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 81, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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AST SpaceMobile, Inc. (ASTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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